nrd525 Market Tracker - page 47. | Bitcointalksearch.org

ejinte

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Merit: 500

Quote from: nrd525 on August 03, 2015, 04:20:48 PM

My base price was $2.55. And I think we'll hit that target within a month or two. I should have stuck with the original trade.

Bitfinex has already come close to that price - with the short lived dip to $3.18.

That said, I really should have stuck with not trading or bought a couple BTC.

It looks like BTC is going to have a slow bull cycle - which could be a lot healthier than a crazy one. BFX BTC swaps are hanging out at slightly under 10k - generally their lowest level since December 2014.

Maybe you shouldn't take advise from random guys on the internet.

nrd525

legendary

Activity: 1867

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Is there any reason BTC is going down?

News: Brainwallets are hackable if you use a password that isn't extremely strong.

Bitfinex is going to stop allow NY residents to trade cryptocurrencies due to the Bitlicense. This could be a big story. Especially if the Bitlicense is adopted by other US states. On the other hand, the Coinbase exchange will hopefully start working in every US state (Does anyone know if they are working on this?). Currently I can buy/sell in my state, but not use their exchange features.

Fakhoury

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Permabull Bitcoin Investor

Hey nrd, hope you are doing well dear.

Could we hear more about you regarding BTC

nrd525

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Activity: 1867

Merit: 1023

My base price was $2.55. And I think we'll hit that target within a month or two. I should have stuck with the original trade.

Bitfinex has already come close to that price - with the short lived dip to $3.18.

That said, I really should have stuck with not trading or bought a couple BTC.

It looks like BTC is going to have a slow bull cycle - which could be a lot healthier than a crazy one. BFX BTC swaps are hanging out at slightly under 10k - generally their lowest level since December 2014.

---

Ashley Barr, former MtGox employee, does a "Ask Me Anything" on Reddit with insight into Mark Karpeles. Notably he thinks Mark was behind the Willy Bot. Any evidence that the Willy Bot was used by pumpers, hackers, or Mt Gox to cover for their losses - is bearish as it means that some or most of the 2013 price was due to manipulation and the actual value might have been as low as $40-$200.

https://www.reddit.com/r/Bitcoin/comments/3fe92x/im_ashley_barr_aka_adam_turner_the_first_mtgox/

ejinte

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Activity: 644

Merit: 500

Quote from: nrd525 on August 01, 2015, 09:49:33 PM

Alright, whoever told me to use a stop loss on my LTC... Not so happy... I should have stuck with my original strategy of trading value. Twice I got scared (first when there was a BFX flash crash, before it generalized to the other exchanges and secondly when I saw a bullish flag that looked like a second pump).

Wasn't your base price like $2 on the first trade?

nrd525

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Alright, whoever told me to use a stop loss on my LTC... Not so happy... I should have stuck with my original strategy of trading value. Twice I got scared (first when there was a BFX flash crash, before it generalized to the other exchanges and secondly when I saw a bullish flag that looked like a second pump).

RoadTrain

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Quote from: ejinte on July 31, 2015, 08:15:20 PM

Quote from: RoadTrain on July 31, 2015, 05:23:11 PM

With Bitcoin I'm currently waiting for the Lightning Network. That thing can push Bitcoin to a whole new level.

Never knew about that before but couldn't find much information about it when I searched either. Could you describe it? Some sort of side-chain technology isn't?

Look here for a draft paper http://lightning.network/

It's a technology allowing for secure off-chain BTC payments. If it succeeds, Bitcoin can scale to much larger transaction volumes.

The big blockchain problem is also solvable, e.g. by using some sort of UTXO commitments. It has been discussed various times here and on the mailing list. It's just not that pressing atm.

ejinte

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Activity: 644

Merit: 500

Quote from: nrd525 on August 01, 2015, 02:25:26 AM

The goal of a centralized payment system is to reduce the transaction cost. For instance, last time I checked Dwolla was free for transactions under $10 and 25 cents above that.

Hmm, LTC continues to dump.

Just woke up, should've traded the head and shoulder pattern. Bitcoin is also dumping.

nrd525

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The goal of a centralized payment system is to reduce the transaction cost. For instance, last time I checked Dwolla was free for transactions under $10 and 25 cents above that.

Hmm, LTC continues to dump.

ejinte

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Activity: 644

Merit: 500

Quote from: RoadTrain on July 31, 2015, 05:23:11 PM

The problem is that there are no superior alternatives to PoW currently when concerning security. It means that non-PoW systems are either less secure (prone to various attacks), less studied (possibly prone to unknown attacks), or they lack some of Bitcoin fundamental properties (like, to my knowledge, Ripple lacks irreversibility). At the same time, PoW altcoins have no chance due to Bitcoin's natural monopoly. It makes it really hard to compete with Bitcoin.

Yep I agree on every point. Etereum is the one which stands out, but to be honest I don't really see any reason to hold the coin.

Quote from: RoadTrain on July 31, 2015, 05:23:11 PM

With Bitcoin I'm currently waiting for the Lightning Network. That thing can push Bitcoin to a whole new level.

Never knew about that before but couldn't find much information about it when I searched either. Could you describe it? Some sort of side-chain technology isn't?

Quote from: nrd525 on July 31, 2015, 05:29:17 PM

The blockchain for anything that is used for small (or even medium sized) transactions will be huge. The only solution to that is to do transactions off-blockchain. I think a centralized payment processor (like Dwolla) is probably the way to go and am surprised that one hasn't caught on.

Centralized payment processors sounds like a really bad idea to me. It's basiclly takes the purpuse of bitcoin away.
...

Quote from: nrd525 on July 31, 2015, 05:29:17 PM

If you believe in it, it looks like LTC is in a great Head and Shoulders formation - and will fall back to 23 LTC. That said, I'm trying not to do day trading =)

Nice spotted, let's see if it completes. Neckline seems to be at $4,4.

LTC will go back down to eighty six cents, where it belongs.

nrd525

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Quote from: ejinte on July 31, 2015, 03:57:06 PM

The way I see it;

Bitcoin is outdated. I feel like living in the stone age every time I'm sitting around waiting for a block to mined so my transactions will be confirmed. The huge blockchain is another problem, it's like 30GB already. The waste of energy when mining is also a shame. We shouldn't have to burn the planets resources in this way.

There is already plenty of projects which are competing with bitcoin, however so far none of them have achieved in overtaking bitcoin. The reason for this is that they are better, but not that much better. But there is technologies being developed right now which will be far superior to bitcoin and I think when the community relies this, bitcoin will disappear pretty quickly.

I'm not mentioning any specific coin or technology, since I don't want to come of as trying to "pump" my coin. Just giving my thought and hoping that perhaps someone thinks the same as me, does their own research and then will be ready for some interesting discussion.

The blockchain for anything that is used for small (or even medium sized) transactions will be huge. The only solution to that is to do transactions off-blockchain. I think a centralized payment processor (like Dwolla) is probably the way to go and am surprised that one hasn't caught on.

...

If you believe in it, it looks like LTC is in a great Head and Shoulders formation - and will fall back to 23 LTC. That said, I'm trying not to do day trading =)

RoadTrain

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Quote from: ejinte on July 31, 2015, 03:57:06 PM

The way I see it;

Bitcoin is outdated. I feel like living in the stone age every time I'm sitting around waiting for a block to mined so my transactions will be confirmed. The huge blockchain is another problem, it's like 30GB already. The waste of energy when mining is also a shame. We shouldn't have to burn the planets resources in this way.

There is already plenty of projects which are competing with bitcoin, however so far none of them have achieved in overtaking bitcoin. The reason for this is that they are better, but not that much better. But there is technologies being developed right now which will be far superior to bitcoin and I think when the community relies this, bitcoin will disappear pretty quickly.

I'm not mentioning any specific coin or technology, since I don't want to come of as trying to "pump" my coin. Just giving my thought and hoping that perhaps someone thinks the same as me, does their own research and then will be ready for some interesting discussion.

The problem is that there are no superior alternatives to PoW currently when concerning security. It means that non-PoW systems are either less secure (prone to various attacks), less studied (possibly prone to unknown attacks), or they lack some of Bitcoin fundamental properties (like, to my knowledge, Ripple lacks irreversibility). At the same time, PoW altcoins have no chance due to Bitcoin's natural monopoly. It makes it really hard to compete with Bitcoin.

With Bitcoin I'm currently waiting for the Lightning Network. That thing can push Bitcoin to a whole new level.

ejinte

hero member

Activity: 644

Merit: 500

The way I see it;

Bitcoin is outdated. I feel like living in the stone age every time I'm sitting around waiting for a block to mined so my transactions will be confirmed. The huge blockchain is another problem, it's like 30GB already. The waste of energy when mining is also a shame. We shouldn't have to burn the planets resources in this way.

There is already plenty of projects which are competing with bitcoin, however so far none of them have achieved in overtaking bitcoin. The reason for this is that they are better, but not that much better. But there is technologies being developed right now which will be far superior to bitcoin and I think when the community relies this, bitcoin will disappear pretty quickly.

I'm not mentioning any specific coin or technology, since I don't want to come of as trying to "pump" my coin. Just giving my thought and hoping that perhaps someone thinks the same as me, does their own research and then will be ready for some interesting discussion.

nrd525

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Activity: 1867

Merit: 1023

I think the number of users matters more than the technical attributes of the currency / payment system. It is possible that innovation will attract a strong enough community of users, but they have to compete with Bitcoin. Frankly, I don't know enough about some of those currencies to analyze them. The only one I really followed was Ripple, and very briefly Ethereum.

A lot of people are probably in this for the fun (eg as a hobby) and they are going to prefer Bitcoin because there is more community, projects, drama, uses and news. Personally I tend to have weird hobbies - like shortwave radio and try to receive AM/MW stations from Europe at my east coast address, but most people have hobbies that are more common (like sports watching or participating). Or if they are in it for the investing/gambling, there is little need to get involved in any alt-coins as Bitcoin is volatile enough (especially with leverage).

I've got Bitcoin, cash, USD swaps at Bitfinex, a LTC short, and half of a house (by far the largest asset).

...

LTC is down slightly from the bull flag (less "flag" looking).
BTC is also down.

ejinte

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Activity: 644

Merit: 500

I posted this in another thread but thought maybe it interests you as well, the cyber fund rating:

https://cyber.fund/

That's slide 21 from this report: https://cyber.fund/cyberep

Thoughts about this? What are you holding except for BTC nrd525?

nrd525

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Quote from: Chef Ramsay on July 28, 2015, 02:24:20 AM

Dude, you need to stop shorting litecoin at this point and go long mostly. Everything else is looking good but stop the short tip. word.

Please give me your reasons.

On the positive side - I see Litecoin halving hype and a potential second pump (and the bullish flag is evidence of this).

I'm skeptical about Litecoin's actual use (or hold) value. I think Bitcoin does almost everything that Litecoin can do. The exceptions are that Litecoin can help Litecoin miners make money, and that the Litecoin community believes in it.

I think the altcoin market is in a general decline which will not reverse when bitcoin turns its bear market and eventually goes bullish (which it has been doing since January). There is lots of innovation, but almost nothing is sticking. For most uses, bitcoin sidechains might replace altcoins. If something does catch on, it will be very different from Bitcoin (something like Ripple).

The biggest negative is that I think the pump will collapse and the three ponzi owners will cash in. This could take several months.

ejinte

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Activity: 644

Merit: 500

Quote from: Chef Ramsay on July 28, 2015, 02:24:20 AM

Dude, you need to stop shorting litecoin at this point and go long mostly. Everything else is looking good but stop the short tip. word.

Yeah we should definitely take advice from the biggest litecoin bagholder there is. Cheesy

gizmoh

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Quote from: nrd525 on July 28, 2015, 02:15:50 AM

BFX USD swaps went up $1.9 million in the past 24 hours to $30.1 million. First time past $30 million.

I closed most of my LTC short as I'm worried about another pump (went from 1500 to 600).

On the contrary, its time to short LTC. Its a reminiscence of the pump. Bids are pretty shallow and lower volume buying. Unsustainable even after halving.

Chef Ramsay

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Quote from: nrd525 on July 28, 2015, 02:15:50 AM

BFX USD swaps went up $1.9 million in the past 24 hours to $30.1 million. First time past $30 million.

I closed most of my LTC short as I'm worried about another pump (went from 1500 to 600).

Dude, you need to stop shorting litecoin at this point and go long mostly. Everything else is looking good but stop the short tip. word.

nrd525

legendary

Activity: 1867

Merit: 1023

BFX USD swaps went up $1.9 million in the past 24 hours to $30.1 million. First time past $30 million.

I closed most of my LTC short as I'm worried about another pump (went from 1500 to 600).

Topic: nrd525 Market Tracker - page 47. (Read 82718 times)